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Hello
Scott you hit the nail on the head, I spend my first year investigating, traveling around the country, trying to find the right contacts, learning Spanish, BEFORE investing my money. I did set up my sociedad right away, to have to ability to buy a phone, car,..
To Genn, please do come and visit my business or hold your peace before judging, do you even live or do business in CR????
I also agree with Scott that a bar or restaurant isn’t as romantic as it would look like in the movies, it’s hard work, lot of organization, and the profits of a snack bar are rather low for the work it brings up in my opinion.
Research a certain demand and on what people are willing to spend there money first, the consuming habits here are slightly different then what you are probably used in your home country. In the retail sector your LOCATION will be VERY important, people still go very much by word of mouth in Costa Rica, so make your business visible when you are starting out. Because there are no street names (except San Jose) here, you are better of located in front of a MC Donalds let say then in a back alley 250m south and 100m east of…Success,
Stephane
efi-costarica.comHello harlonrichards,
If you are president of the company you are working in, are registered as a legal tax payer and send in those form every month at your bank, you are allowed to work in your business! You DO need a work permit if you are not a resident and are working for a company in Costa Rica that is not yours.
Multicipalidad licence, trimester taxes, santitary permits,…you have various paperwork to take care off. OF COURSE! Thats why I stated: do your research.
But please don’t act like this is all an impossible task!Hello genn,
I’m European had a bar in Belgium for 5 years and sold it at age 28. I moved to Costa Rica and started an importing business 3 years ago. I’m NOT guaranteeing success in Costa Rica for everybody thinking setting up a business is a 5 minute job!!!
Only determination, research, a good business plan, and a sparkle of luck can do that for you. Thats just common sense. What I DO say is, that setting up a business (paper wise) is far more easy here then in the States or Europe.
Getting started that is, NOT succeeding, thats a totally different subject. I did read this post as questions on how to set up a business not on how to make millions in Costa Rica!Every lawyer can set up a sociedad, fully operative in a month, for a few 100$’s. So theoretically you can start doing business from that moment on. And taxes are not over 50% like we have them in Europe.
Costa Rica has a very positive investors climate or how would you explain the booming foreign investments??
Although it takes a lot of standing in line, frustration, and awareness of being ripped off possibility, it is perfectly possible to make a living in Costa Rica.
And yes there are numbers of scam businesses but aren’t they everywhere in the world?
But if you are passionate about your goals and are willing to WORK for them everything is possible.
Quick rich scams don’t work, but I’m going of topic.So YES it is easy and inexpensive to set up a sociedad in my opinion. But of course you need to learn Spanish, deal with the Tico mentality, research your opportunities,… or you will probably end up with an empty pocket and a very bad headache!
Sorry for not mentioning all of this in my first reply, but this seemed like common sense to me!
Success,
Stephane
Yes the best way to get a liquor license is to buy an existing business that has one, or sometimes you can buy one at local auctions. Anyways they can be VERY expensive, and the bidding has to be done by a local if you don’t want to get ripped off. There are locals owning liquor licenses for a certain area too. But your budget could get a big hit if you are concentrating on getting a license. I would rather concentrate on the food instead of the alcohol lol, if you attend to open a small snack bar.
All the best,
Stephane
efi-costarica.comHello Biggdawgg,
As long as you don’t need a liquor license it’s legally pretty easy to open a business like that. A company you can establish in about a month and will cost you around 500$. If you own a sociedad anonima you can for sure work in your own business although depending of your location it would be good to hire some Tico help, the basic salaries are cheap and it’s good to have a native Spanish speaking person in the neighborhood.
Once you have your company you can get a cellphone and open bank accounts much easier then without any legal paperwork in this country. You should officially leave the country every 3 months for at least 72 hours, to stay here legally. You can even get a Costa Rican drivers license after tree months in Costa Rica showing your original from your resident country and do a fast medical exam. It’s some handy ID to have with you if you dodn’t have a residency yet.
For the perfect location I suggest you take out some time to visit the pacific coast for a few weeks, some spots are very Gringo orientated others are more for the locals. Keep in mind that it gets difficult to have your restaurant very close (at the beach for that matter) to the beach, most areas are protected or require special governmental lease contract that are almost impossible to get.
You will have some significant competition but like always only the best stand out and will be successful.Good luck.
Stephane
efi-costarica.com
